Woman ordered to repay $1 million

BISMARCK (AP) — A 70-year-old North Dakota woman accused in a scheme to raid trust funds was ordered Wednesday to repay more than $1 million and serve probation in lieu of prison time.

Ann Loran, of Richardton, pleaded guilty in October to a charge of conspiracy to commit bank fraud. The charge carried a maximum penalty of 30 years in prison.

In addition to the restitution order, U.S. District Judge Patrick Conmy sentenced Loran to six months of community confinement. The government asked for a sentence of 15 months in prison.

Conmy also issued a forfeiture judgment of more than $790,000.

Loran’s sister, Betty Kolling, is a former trust officer at Bank of the West in Dickinson. Kolling and her husband, Walter Kolling, pleaded guilty earlier to conspiring to commit bank fraud.

Authorities said the Kollings and Loran were part of a scheme to steal more than $800,000 from clients. Investigators said one trust account was looted for $582,800.

The government said the defendants also obtained from one client potentially lucrative rights to income from oil exploration and production in four western North Dakota counties for $1,764.

U.S. Attorney Timothy Purdon declined comment on Loran’s case because the Kollings have not been sentenced. A spokesman for the federal public defender’s office, which represented Loran, had no comment.

The Kollings are scheduled for sentencing on March 13.

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